Before Beginning the Market Segmentation Process,a Firm Should

question 80

Multiple Choice

Before beginning the market segmentation process,a firm should:

• A)select target market segments.
• B)forecast total market potential.
• C)forecast market share.
• D)identify bases for segmenting markets.

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Definitions:

Capturing Value

The process by which companies retain a portion of the value provided to customers through pricing, service, or product features.

Marketing Mix

Refers to a set of actions or strategies utilized by a company to promote its brand or product in the market, commonly defined by the four Ps: Product, Price, Place, and Promotion.

B2B

Business-to-Business, a model wherein transactions or trade happens directly between two businesses rather than between a business and individual consumer.

B2C

Business-to-Consumer, referring to the process of selling products and services directly to consumers who are the end-users.